Topic: The Rise of Crypto Gambling: What You Need to Know - page 5. (Read 843 times)

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc. I guess, what crypto gambling really brought forth to the table is its ease of access and overall ease of registration and getting KYC-accepted. Apart from that, I don't see anything that crucial which separates fiat online casinos from crypto casinos, at least at this point in time.

At first when they launch, they say kyc free to get traffic to their casino and many gamblers flood their casino to get registered with them and they make huge record of traffic flow coupled with huge revenue generation at then they hide their license and tell the masses that they are decentralized with all form of sincerity and truly they are but as time goes on when they have started gaining the desired reputation and everything perfectly working well as according to their plans, they start or update their policies from kyc free to compulsory kyc before withdrawal. This is how it goes and keep repeating itself with other new casinos. So no need for  pseudo-anonymity when ever you want to register with a casino or an exchange. Always have it in mind that even if the casino or exchange tells you to register without kyc, in the long run they would definitely tell you to do your kyc when they have fully reach their target. That is the current trend now I noticed.

I think crypto based casinos are already popular even before the pandemic. It's that it was highlighted during that time as we don't have our land based casinos as obviously it is closed. They try to open their own version of online casinos though, but crypto based has taken the reign that time and it grows over the next 2 years as there are casinos popping up and then the competition.

So for the whole KYC and other mandated by regulators, its has been there since 2017, after the bull run. It's just that the pandemic really put the spotlight on us and so we have to comply.

Always have it in mind that even if the casino or exchange tells you to register without kyc, in the long run they would definitely tell you to do your kyc when they have fully reach their target. That is the current trend now I noticed.

The sports betting and gaming industries constantly evolve. The next evolution has been the advent of blockchain and cryptocurrency technologies. Bitcoin sportsbooks have become the newest thing in the industry. And for good reason. A crypto sportsbook provides advantages that traditional books can’t. If you’re new to crypto gambling, or require a refresher, keep reading to discover the top five things you must know about crypto sportsbooks.

What You Need to Know About Crypto Gambling

Bitcoin has become a store of value

For many, bitcoin remains something to be feared or disregarded. But that’s changing and it’s changing quickly.

It already has changed when it comes to the way the largest banks in the world view BTC. Goldman Sachs, JP Morgan Chase, and Morgan Stanley offer their clients bitcoin investment strategies.

Cryptocurrency investors see BTC as digital gold. Bitcoin is the base for their crypto investment strategies. The bottom line? Cryptocurrencies, and especially Bitcoin, isn’t going anywhere.

Your information is more secure

For our purposes, this is the most significant thing to know about crypto gambling. It is much more secure than playing in a traditional sportsbook.

Traditional sportsbooks have your address, your phone number, your email address, and more info about you. Some sportsbooks sell your information to list creators. Those list creators sell the info to tout services that call you to get you on board with their plans.

You can deposit and make withdrawals faster

Crypto deposits and withdrawals happen much faster than in traditional sportsbooks or online gaming sites. The reason is due to cryptocurrencies’ peer-to-peer philosophy.

A middle entity, like Coinbase or Cash App facilitates the transfer of your BTC or other crypto to your sportsbook account. But those entities are just facilitators.

They aren’t involved the way your credit card company is involved. This speeds up the entire deposit and withdrawal process.

Read more→ https://n2g.io/3e8d2b4

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

Since the last pandemic, crypto casinos have gained so much popularity that they are better known by gamblers who usually play in physical casinos. Starting from there, people know that using crypto to gamble is safer than using fiat because they don't need to fill in various required data before starting to play gambling. At crypto casinos, they only need to register using their email and password, and start depositing the coins they want, in this case, bitcoins or altcoins, to start gambling.

But gradually, the popularity of crypto casinos caught the attention of regulators in crypto casinos, so they asked the casinos to perform KYC on the gamblers. Regulators want to know who is gambling in their country, especially those who use big money. And now, crypto casinos are trying to continue that by asking their users to do KYC. This is a new problem for crypto users who often gamble because they can no longer be free to play gambling. And even though the casino already allows users not to register but only to connect their wallet to the casino site, later on, casino users can be asked to do KYC.

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc.

I never faced any issue of network congestion. Deposits and withdrawals are never delayed on blockchain network congestion but it is more often delayed by the casino if they are processed manually.

For ease deposit and withdrawal maybe there are some factors that user like this on crypto casino but sometimes there's issue of network congestion so I think this is also less concern with the users.

So what I really think the main concern of people regarding on crypto gambling is the accessibility since they can have fun wherever they go since online casino is present everywhere and they could just go online then play when they like to do it.

The main things on why crypto gambling is becoming more popular and more in demand because of these things;

1. Anonymity
2. Ease of deposit/withdrawal options
3. Lots of variety of games

Im not saying that Fiat casinos doesnt have these things but nothing beats out even with that instant withdrawal thing on which you cant really be able to
have on a fiat casino in most time specially if its really that withdrawn directly into your bank which it would be taking up some days.Unlike that we do have on crypto
that it would really be instant. The only cons i do see on this is on the time that the company or owner would be tending to ran their users funds
then there's no chance for it to be getting it back due to that anonymity thing which it is really that also one of the cons specially if the casino
isnt that regulated but well its a matter of personal choice in the end of the day.

~

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

You should already know this is same characteristics you have with banks, fiat casinos and centralized crypto casinos. Fiat casinos may not request for your picture but centralized casinos among other things requested may further ask to see your face which in fact is very discouraging. So what point are you making with this? I'm sure your link could be about a casino running on KYC.